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Former Dewey Head's Payments Could Be Little

The leader many blame for the collapse of New York law firm Dewey & LeBoeuf LLP could end up paying little or nothing to settle claims related to the biggest law-firm failure in U.S. history.

Former Dewey Chairman Steven Davis has agreed to pay back about $511,000 in past compensation as part of a proposed settlement deal that would also allow creditors to tap into $19 million in insurance money. Creditors were owed hundreds of millions of dollars when the law firm went under last year.